Home / Business and Economy / Aditya Birla Capital Secures ₹2,750 Crore Deal
Aditya Birla Capital Secures ₹2,750 Crore Deal
3 Feb
Summary
- Aditya Birla Housing Finance to raise ₹2,750 crore from Advent International.
- Aditya Birla Capital's net profit rose 41% to ₹983 crore in December quarter.
- Total lending portfolio expanded 30% to ₹1.90 lakh crore, showing strong credit demand.
Aditya Birla Capital's stock saw a surge following the announcement that its subsidiary, Aditya Birla Housing Finance, is set to secure ₹2,750 crore in growth capital. This significant investment comes from private equity major Advent International.
The company revealed strong financial performance for the December quarter, with net profit climbing 41% year-on-year to ₹983 crore. Revenue for the period also experienced substantial growth, increasing by 30% to ₹14,181 crore.
Further underscoring its robust business momentum, Aditya Birla Capital's total lending portfolio expanded by 30% compared to the previous year, reaching ₹1.90 lakh crore. This growth reflects healthy credit demand in the market.
